Problem 13-7A (Part Level Submission) Presented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 Cash $35,260 Accounts receivable 32,830 Inventory 26,040 Equipment 59,420 Accumulated depreciation-equipment (29,700 ) Total $123,850 2014 $19,230 19,230 20,760 77,170 (23.300) $113,090 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,630 7,120 26,350 18,610 43,140 $123.850 $ 16,630 8,260 32,920 13,990 41,290 $113,090 NOSKER COMPANY Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net Income $242,470 176,910 65,560 23,200 42,360 2.440 39,920 7.160 $32.760 Additional data: 1. Dividends dedared and paid were $30,910. 2. During the year equipment was sold for $7,880 cash. This equipment cost $17,750 originally and had a book value of $7,880 at the time of sale. 3. All depreciation expense, $16,270, is in the operating expenses. 4. All sales and purchases are on account. Your answer is partially correct. Try again. Your answer is partially correct. Try again. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.o. -15,000 or in pa NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2015 TCash Flows from Operating Activities T Net Income 32000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Tincrease in Inventory Tincrease in Accounts Payable TDecrease in Income Taxes Payable Increase in Accounts Receivable increase in Accounts Receivable LINK TO TEXT VIDEO. SIMILAR PROBLEM (b) The parts of this question must be completed in order. This part will be available when you complete the part above